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stingray192

47 ravenhill park!

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3 bedroomed detached house, needing total renovation, on with templeton Robinson for £395,000 current offer sitting at £490,000

think this is total madness 

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9 hours ago, 2buyornot2buy said:

It's the garden. I agree, it's total insanity. 

unless its a builder its total madness, its a very small detached so would need a huge extension and literally the entire house rebuilt, you can buy better in cranmore for similar money

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1 hour ago, stingray192 said:

unless its a builder its total madness, its a very small detached so would need a huge extension and literally the entire house rebuilt, you can buy better in cranmore for similar money

Probably half the size garden though. Still, utter madness. For the price and refurbishment costs you'd be better buying in Myrtlefield, Broomhill or Deramore. Much nice areas. 

Interestingly I know someone who bought there. 4 bed detached, a lot larger than that. Think it was 2012. Paid 250k if memory serves. 

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to extend and refurbish the house to a high standard would be at least 200k including kitchens, bathrooms, landscaping etc, that house is no way worth £700+k

 

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2 hours ago, stingray192 said:

to extend and refurbish the house to a high standard would be at least 200k including kitchens, bathrooms, landscaping etc, that house is no way worth £700+k

 

Trying to find tradesmen is difficult at the moment. I doubt 200k would do it. Particularly Belfast based tradesmen. It probably costs 100k plus for a decent extension on a semi now. I've heard people paying 50k for a loft conversion. 

What's also mental is the EAs fee will be 5k on that. The conveyance probably 1.2k. Used house salesmen valued more than actual professionals. The mind boggles. I blame Instagram. 

 

Edited by 2buyornot2buy

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1 hour ago, 2buyornot2buy said:

Trying to find tradesmen is difficult at the moment. I doubt 200k would do it. Particularly Belfast based tradesmen. It probably costs 100k plus for a decent extension on a semi now. I've heard people paying 50k for a loft conversion. 

What's also mental is the EAs fee will be 5k on that. The conveyance probably 1.2k. Used house salesmen valued more than actual professionals. The mind boggles. I blame Instagram. 

 

200k is a very conservative estimate, the house is already seriously over priced and anything spent on the house would push it so much over the ceiling price of the area, whoever buys it would have to budget carefully for bathrooms, kitchens etc, also new heating, plumbing, electrics etc  a top of the range finish would double the price

have relooked at the house, it is currently sitting at £500k  its actually on a very narrow site, extremely limited parking and if you extend out the back the garden would be quite small

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5 minutes ago, stingray192 said:

200k is a very conservative estimate, the house is already seriously over priced and anything spent on the house would push it so much over the ceiling price of the area, whoever buys it would have to budget carefully for bathrooms, kitchens etc, also new heating, plumbing, electrics etc  a top of the range finish would double the price

have relooked at the house, it is currently sitting at £500k  its actually on a very narrow site, extremely limited parking and if you extend out the back the garden would be quite small

Obviously someone who doesn't require a mortgage. No chance of getting a valuation anywhere approaching that. 

 

Tbh that isn't far off 2007 bubble. 

Edited by 2buyornot2buy

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I check the market every few days and I'm consistently shocked by the prices things are going on for.

I saw a 2 bed semi in Loopland for almost 200K the other day. For those who know the Loopland area of east belfast, you'll know it's not somewhere where you typically would have had to spend 8 times the average salary for a 2 bedder.

East Belfast has gone so crazy I'm seeing examples where BT9 is actually offering better value.

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19 hours ago, stingray192 said:

3 bedroomed detached house, needing total renovation, on with templeton Robinson for £395,000 current offer sitting at £490,000

think this is total madness 

When I was a child I lived in a semi close to Ravenhill Gardens, and we used to drive or walk through it to get to the Ormeau park.

I used to look at the house and think "I'm gonna work hard at school and get a good job and when I'm older I'm gonna live in one of those houses" - back then two reasonably well paid professionals could afford one of those houses.

And here I am at 35 with my 'good job' living in a one bed flat lol. Funny how things work out.

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5 hours ago, 2buyornot2buy said:

Interestingly I know someone who bought there. 4 bed detached, a lot larger than that. Think it was 2012. Paid 250k if memory serves. 

So we're basically back in bubble territory....

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36 minutes ago, JoeDavola said:

When I was a child I lived in a semi close to Ravenhill Gardens, and we used to drive or walk through it to get to the Ormeau park.

I used to look at the house and think "I'm gonna work hard at school and get a good job and when I'm older I'm gonna live in one of those houses" - back then two reasonably well paid professionals could afford one of those houses.

And here I am at 35 with my 'good job' living in a one bed flat lol. Funny how things work out.

Back then it wouldn't have even taken 2 professional. One professional and one wife at home looking after the 2 kids could have bought it no problem. Now 2 professionals would struggle to buy that, pay a pension and have 2 kids in childcare. In fact for 99% its impossible. 

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4 minutes ago, 2buyornot2buy said:

Back then it wouldn't have even taken 2 professional. One professional and one wife at home looking after the 2 kids could have bought it no problem. Now 2 professionals would struggle to buy that, pay a pension and have 2 kids in childcare. In fact for 99% its impossible. 

Yes.

I remember the headmaster of my primary school lived in Ravenhill Park. I doubt headmasters are able to fund half a million mortgages these days.

It's getting to the point where it's actually looking difficult to figure out how on earth to afford a family, which is a sad thing.

I like the look of this house, but it would cripple me financially:

https://www.propertypal.com/35-sharman-drive-stranmillis-belfast/580432/photo-2

Might be able to make it work with a couple of lodgers and a long term mortgage, but don't want to have to rely on that.

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At huge risk of being absolutely slated here but I think many of you underestimate how much money people have and who can afford to buy on Ravenhill Park. I live on this street, I bought a house in 2013 just as the market turned and was fortunate (or financially astute). Renovations and an extension cost circa £300k and the garden is still large post extension. Buyers on this street can afford to buy these houses requiring renovation with cash and renovate with very little hardship. I genuinely don’t care how much my home is worth, I have renovated it to a standard I want to live in for the rest of my life. This area for me is much nicer than any street in BT9. I don’t know everyone’s financial circumstances but I am certain there are people on this street who could afford to buy these houses 2/3/4 times over with no mortgage. The frontage on this house is really beautiful, I’m sure it will be a wonderful family home and I would imagine the potential purchaser will be delighted to secure it, it’s hard to get a house on this street, it took us four years to secure one.

 

 

 

 

 

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I don't get the talk of £££ extensions, total renovation etc.

It's not huge but it has 3 reception rooms.

Downstairs looks relatively recently decorated. Many people would buy and leave kitchen and bathroom as they are, just remove old built in wardrobes and naff wooden ceiling.

Late Victorian/Edwardian style is popular, commands a bit of a premium.

An older couple with equity could buy it and virtually do nothing to it, hence the price I guess.

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44 minutes ago, Andy T said:

I don't get the talk of £££ extensions, total renovation etc.

It's not huge but it has 3 reception rooms.

Downstairs looks relatively recently decorated. Many people would buy and leave kitchen and bathroom as they are, just remove old built in wardrobes and naff wooden ceiling.

Late Victorian/Edwardian style is popular, commands a bit of a premium.

An older couple with equity could buy it and virtually do nothing to it, hence the price I guess.

I honestly don’t know a single person who would live in a house with those kitchens and bathrooms, but we all have different standards, ravenhill Park is a fairly ordinary road with mainly old run down houses, there is far better locations round Belfast, much nicer houses on better streets for similar money and less 

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13 hours ago, Musicmad said:

At huge risk of being absolutely slated here but I think many of you underestimate how much money people have and who can afford to buy on Ravenhill Park. I live on this street, I bought a house in 2013 just as the market turned and was fortunate (or financially astute). Renovations and an extension cost circa £300k and the garden is still large post extension. Buyers on this street can afford to buy these houses requiring renovation with cash and renovate with very little hardship. I genuinely don’t care how much my home is worth, I have renovated it to a standard I want to live in for the rest of my life. This area for me is much nicer than any street in BT9. I don’t know everyone’s financial circumstances but I am certain there are people on this street who could afford to buy these houses 2/3/4 times over with no mortgage. The frontage on this house is really beautiful, I’m sure it will be a wonderful family home and I would imagine the potential purchaser will be delighted to secure it, it’s hard to get a house on this street, it took us four years to secure one.

Beauty is in the eye of the beholder. I'd say it's not as nice as my BT9 street. Or indeed any of the streets around me. It's a pretty average street. Like I say, I know someone who bought in this street in 2013 (maybe its you lol). I know this particular person if he had of being buying now, for that money, he'd have bought on BT9. He bought for the space and the value. Not necessarily for the area. Particularly not on a Friday night when the rugby is on. 

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Thankfully I was brought up watching rugby and enjoy the atmosphere on rugby nights, we have season tickets. Don’t get me wrong of course there are some nice houses in BT9 but it is quieter around BT6/BT7and I personally find the people more down to earth. One of my neighbours houses (semi) on this street was valued over £1m in 2007 so putting that into context £505k for a detached is reasonable. If you want to live in this area for the schools there are very few detached houses. 

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5 hours ago, stingray192 said:

I honestly don’t know a single person who would live in a house with those kitchens and bathrooms, but we all have different standards, ravenhill Park is a fairly ordinary road with mainly old run down houses, there is far better locations round Belfast, much nicer houses on better streets for similar money and less 

I suspect the purchaser will renovate straight after purchasing as we did without living in it first.  I think you’re incorrect saying the houses are run down, there were two such houses on the road and one was renovated last year and the other is currently being renovated. 

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I remember your posts from a couple of years ago. The 380k a year being quite normal for there. Looking at companies registered on the road it really is abnormal. I can't see a single company where a director could release that sort of dividend. If it's getting paid as salary, I'd have a chat with the accountant. 

 

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28 minutes ago, 2buyornot2buy said:

I remember your posts from a couple of years ago. The 380k a year being quite normal for there. Looking at companies registered on the road it really is abnormal. I can't see a single company where a director could release that sort of dividend. If it's getting paid as salary, I'd have a chat with the accountant. 

 

You would not be able to ascertain that information in full from abridged accounts at companies house. Having said that it would appear you have not identified our company in your search and Obviously if you do manage to I would prefer you didn’t release the information here. I am an accountant so having chatted to myself I can assure you we remunerate ourselves in a very tax efficient manner. 

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18 hours ago, Musicmad said:

At huge risk of being absolutely slated here but I think many of you underestimate how much money people have and who can afford to buy on Ravenhill Park.

People moving back from other global locations can afford to buy these places without much concern.
I've been working in the bay area for the past 5 years, though the weather and opportunities are great in California, I still want to come home at some point.
An area like Ravenhill Park in Alameda county (not even the fanciest part) would cost ~$2 million. 

There are a lot of Chinese investors helping to inflate the market out here, I wonder if they are starting to consider Belfast now?

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That area of Belfast would not suit me, its a car persons street. The Lisburn Road is dead handy because you have everything on your door step, very decent Tescos, two M&S's just to name a few shops. You also have the train station dead handy too. That street is poorly served public transport wise.

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1 hour ago, Musicmad said:

You would not be able to ascertain that information in full from abridged accounts at companies house. Having said that it would appear you have not identified our company in your search and Obviously if you do manage to I would prefer you didn’t release the information here. I am an accountant so having chatted to myself I can assure you we remunerate ourselves in a very tax efficient manner. 

Abridged? Ok... 

I'm all for internet anonymity. I still stand by what I've stated. I can't see any companies or directors of other companies based in ravenhill park where company accounts suggest 700k "income" is the norm or even common. 

I'd be pretty confident I can identify your company. I'm pretty sure you could also identify mine with a quick search of my posting history. I'd never do that. What I would do is suggest your figures are either highly exaggerated or completely made up. 

 

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  • 242 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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